Venture capital entity True Global Ventures 4 Plus (TGV 4 Plus) reportedly secured $146 million via fundraising to support a variety of Web3 initiatives. 

Specifically, the “TGV4 Plus Follow On Fund” closure – emphasizing the ongoing interest in crypto regardless of volatile actions in the market – was led by a group of 15 general partners who dedicated more than $4 million on average (over 40%, or $62 million) into the fund. 

The large part of the capital injection will reportedly mainly devoted into Web3 establishments included in TGV’s portfolio, while the rest will be allocated towards making investments in late-stage Web3 opportunities.

TGV has reportedly made previous investment in a wide range of Web3 projects using a base fund devoted to the late-stage Series A, B and C throughout three business verticals: entertainment and gaming, financial services, and artificial intelligence. 

Prominent TGV investments include The Sandbox, Animoca Brands and Forge, among others.

“It is much easier to see more clearly who the winners are now. This has created a high level of confidence amongst our investors.” Dušan Stojanović, among TGV’s 15 general partners, reportedly disclosed his perspectives regarding investments in a market showing signs of going through a bear phase.

Stojanović additionally revealed that market correction offers assistance in singling out the strongest players, as he advised fellow VCs to maintain their investments in crypto businesses.

“Regardless of the market situation, there are always good teams having great products at the proper time. Crisis is the best time to invest, not the bull market.” 

On June 10th, high-profile crypto exchange Huobi Global introduced Ivy Blocks, a new investment division with a capital of more than $1 billion in crypto assets.